Texas is home to thousands of award-winning restaurants, including high-end luxury dining rooms, casual BBQ joints serving food on butcher paper, quaint bistros and cafes, and bustling family restaurants. Regardless of the type, size, and cuisine of a restaurant, there are universal liability issues that exist for all restaurant owners. In part two of our series, we look at three additional liability issues and concerns restaurant owners must consider when purchasing commercial insurance for their business.
Unfortunately, theft is a common issue for restaurants because they are not just targeted by customers or random criminals, but sometimes by their very own employees. Restaurants have long been popular targets for thieves because they offer a variety of valuable assets, including food inventory, expensive equipment, alcohol, televisions, delivery vehicles, silverware, unique artwork, and cash and credit card records. To help protect their restaurant, owners must implement a two-part process to help mitigate losses. First, they should consider installing a professional security system with digital video monitoring to deter thieves or help identify those in the act. In addition, they should also make sure to protect the value of all assets with Commercial Property Insurance in the event of a theft.
Many restaurants are run like well-oiled machines, with routines and schedules that allow restaurants to prepare and serve food promptly without delay to customers. However, unforeseen events can completely disrupt restaurant operations and bring the restaurant (and revenue) to a standstill. Business Interruptions are events such as fires, power surges, or the complete loss of utilities that cause a complete shutdown of a restaurant. Closures caused by business interruptions can last hours, days, weeks, or even months, depending on the severity of the issue. Without proper financial security in place, restaurants may be unable to fully recover and risk permanent closure. Business Interruption Insurance offers restaurants peace of mind that they can fully and promptly recover from business interruptions.
Sometimes Mother Nature can be the biggest threat to a restaurant's longevity and success. Restaurants, especially those in the Gulf Coast region, can be severely impacted by wildfires, floodwaters, strong windstorms, and even hurricane damages. Without proper insurance coverage, it can take restaurants weeks, months, or even years to repair and replace parts of the restaurant lost due to these natural disasters. Commercial Property Insurance and Business Owners Policies can help mitigate losses caused by natural disasters and allow businesses to quickly recover and reopen.
Aegis Insurance & Financial Services is pleased to offer top quality Restaurant Insurance solutions to restaurants of all sizes and types. The Aegis team can create a tailored commercial insurance package that meets all the unique needs of a restaurant, including Business Owners Policy, Commercial Property, Commercial Auto, General and Excess Liability, Workers Compensation, Business Interruption, and Food Spoilage/Contamination coverage. Contact Aegis today at 713-850-7622 for more information, or go online to request a free quote!